La Jolla, California (Reuters) - Craig Venter, the U.S.
scientist who raced the U.S. government to map the human genome
over a decade ago and created synthetic life in 2010, is now on
a quest to treat age-related disease.

Venter has teamed up with stem cell pioneer Dr Robert Hariri
and X Prize Foundation founder Dr Peter Diamandis to form Human
Longevity Inc, a company that will use both genomics and stem
cell therapies to find treatments that allow aging adults to
stay healthy and functional for as long as possible.

"We're hoping to make numerous new discoveries in preventive
medicine. We think this will have a huge impact on changing the
cost of medicine," Venter said on a conference call announcing
his latest venture.

The San Diego-based startup company has $70 million in
private backing and has already purchased two ultrafast HiSeq X
Ten gene sequencing systems from Illumina Inc, a leading
manufacturer of DNA sequencing machines, with the option to buy
three more.

The company will use that technology to map 40,000 human
genomes in a push to build the world's largest database of human
genetic variation. The database will include sequences from the
very young through the very old, both diseased and healthy.

"This will be one of the largest data studies in the history
of science and medicine," Venter told the conference call.

In addition to gathering whole genome data, the company will
collect genetic data on the trillions of microbes - including
bacteria, viruses and fungi - living in and on humans.

By better understanding the microbiomes in the gut, in the
mouth, on the skin and other sites on the body, the company said
it hopes to develop better probiotics as well as better
diagnostics and drugs to improve health and wellness.

Along with the microbiome data, Human Longevity Inc or HLI
will collect data on the metabolome - the various metabolites,
biochemicals and fats in the body - in order to get a better
picture of the circulating chemicals that contribute to health
and affect how drugs work.

The company's initial treatment targets will be some of the
toughest age-related diseases: cancer, diabetes and obesity,
heart and liver diseases, and dementia.

Venter said the company will start first with cancer. It has
teamed up with the Moores Cancer Center at the University of
California, San Diego, with the goal of sequencing the genomes
of everyone who comes there for treatment, as well as doing a
full genome sequence on their tumors.

"Cancer is one of the most actionable areas right now with
genomic-based therapies," Venter said, adding that cancer is
"just the first of a multitude of diseases we will be sequencing
this year."

In addition to UCSD, the company has established strategic
collaborations with privately held Metabolon Inc of North
Carolina, a company that focuses on biochemical profiling, as
well as his own J. Craig Venter Institute, a nonprofit genomics
research institute.

Venter said the first round of funding should last about 18
months. Initial backers include Malaysian real estate developer,
Kian Thiam "K.T." Lim and Illumina.